Bearish Headwinds Ahead of Avalanche Token Unlock
Bearish headwinds have gripped the Avalanche community ahead of the upcoming $97.4 million token unlock scheduled for August 26. Historical on-chain data analysis explores previous unlock events to predict how Avalanche (AVAX) price could react in the coming days.
Key Points:
- Avalanche will execute a token unlock of 9.54 million AVAX tokens on August 26.
- The newly-unlocked tokens will be allocated to strategic partners, the Avalanche Foundation, Avalanche team, and community airdrops.
- Previous token unlock events have resulted in a price drop for AVAX.
- Long-term holders’ trading patterns will likely have the most significant impact on price.
- Some strategic crypto traders are waiting to buy the dip after the token unlock.
Hot Take: The upcoming Avalanche token unlock could lead to a price drop for AVAX. Long-term holders may conduct a controlled sell-off, while strategic traders are waiting to buy the dip. The initial sell pressure may be absorbed by bullish traders, but if long-term investors continue to sell, AVAX price could eventually drop.
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